I recently ran across an infographic from the National Association of Realtors about simple ways to save money for a down payment on your next home. Roughly 60% of homebuyers financed their home with less than 6% down in 2017. Since the current median sales price is $258,300, a 6% down payment is about $15,498. Here are five simple ways to save up that money: 1. Give up your morning latte. The average cost of a latte is $3.78, or more depending on where you go. That’s $1,300 a year you could save.

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Skip your morning latte and you could save at least $1,300 a year.

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2. Cut out cable. The average cable package costs $100 a month. That’s $1,200 a year right there. 3. Bring your own lunch. Brown-bagging it will save you some money. The average American spends $11 a meal when they go out to eat. Here in Fairbanks, that’s probably a little more. You can save $1,000 a year right there.4. Stop going out to eat. The average American spends about $232 per month eating out. Staying in and making your meals will save you nearly $2,800 per year. 5. Go car-free. The average American spends around $713 a month on their car. Taking the bus, riding your bike, or carpooling will save you more than $8,500 a year. That’s how you save for your down payment (or to cover those closing costs) and get into a home. If you have any other questions about buying a home or about real estate in general, just give me a call or send me an email. I would be happy to help you.

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Madden Real Estate is a unique concept for the Alaska real estate market. The first of its kind in Alaska, Madden Real Estate (MRE) is a locally owned, team-centric real estate firm specializing in residential, commercial real estate sales and exceptional client service. For the past four years, Madden Real Estate has been ranked as one of the top 50 teams in the U.S. according to the Wall Street Journal.

What our clients have to say

"Our beautiful new home had gone unsold after months on the market with another real estate firm. We turned to The Madden Team, and they enthusiastically showed us what they could do to help us connect with buyers. Within a matter of weeks, a happy new homeowner was moving in!!! We were so pleased with the whole process and can't wait to work with the Madden Team again soon!"

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"The Madden Team went over and above what I expected from an agent. I was offered a new position with my company and needed to sell as soon as possible, to close on another home. They immediately started the process and got the house listed and helped with setting it up to show. Within 2 weeks we had a full offer and the process went as smooth as expected. The team went far beyond expectations and helped with inspections and setting up appointments for some minor repairs. If you want expert help in purchasing or selling a home contact The Madden Team."

Client Audio Testimonials

Laura -"First of all, they sold my house very quickly at a fair price. They did all the legwork so I really was able to go to work and focus on what I needed to focus on in my life. They helped me buy a new house and they managed to coordinate both the sale and the purchase of my new house all on the same day. On one occasion Greg Merdes came out at 26 below zero to find the waste vents for our septic system because my husband was unable to do it. And so Greg borrowed his equipment from someone, came out, dug around, and found the waste vents and marked them on his own time and on a Sunday at 26 below zero. He did not have to do that."